For manual adding of carry-over
For example, you are about to generate your 2550M or 2550Q with a carry-over from the 4th quarter of 2018 but only started using JuanTax in January 2019, what you can do is manually add the carry-over from the previous period to 17A(2550M) or 20A(2550Q).
Example of Quarter to Monthly carry-over:
You have a carry-over from 2019 4th quarter and you will now be generating 2550M for the year 2020. JuanTax will automatically pull the carry-over from 2550Q 4th quarter 2019.
Overpayment from 2550Q Q4 2019
2550M January 2020
Example of Monthly to Monthly carry-over:
It's January 2020 and you have overpaid taxes last year and want them to carry-over to the next VAT filing, once you generated your February 2550M, the carry-over from the previous month which is January 2020 will be carried over to your February 2020 2550M.
2550M January 2020
2550M February 2020
Example of Quarter to Quarter carry-over:
Overpayment from 2550Q Q1 2020
2550Q Q2 2020
If there is an Over remittance in the current tax return - example 1601EQ, the filer has an option whether to choose to be refunded”, “To be issued as Tax Credit Certificate”, or “To be carried over to the next quarter within a calendar year”. Once the filer chose the third option, JuanTax will automatically pull the over remittance from the current Quarter to the next Quarter. The carry-over amount can be found in Line 23.
1601EQ Q1 2020 - Over Remittance
1601EQ Q2 2020
Adding net operating loss carry-over in 1702Q. For example, the filer has a loss last period(2019) but he only started using JuanTax in 2020, we will allow the user to manually add NOLCO and we will automatically add the NOLCO entry to the Deduction section.
NOLCO Section - Manual add
For instances that the filer generated 1702RT(2019) in JuanTax and he/she has a loss, JuanTax will automatically pull the NOLCO from 1702RT 2019 to 1702Q 2020 Deduction.
1702RT Loss 2019
1702Q Deduction Section
NO CARRY-OVER - 1601C and 1601FQ